{"id":48068,"date":"2021-08-21T14:18:18","date_gmt":"2021-08-21T11:18:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48068"},"modified":"2025-09-02T00:23:15","modified_gmt":"2025-09-01T21:23:15","slug":"vaneck-and-proshares-withdraw-ethereum-etf-filings-two-days-after-submission","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vaneck-and-proshares-withdraw-ethereum-etf-filings-two-days-after-submission\/","title":{"rendered":"VanEck and ProShares Withdraw Ethereum ETF Filings Two Days After Submission"},"content":{"rendered":"<p>On August 20, asset managers ProShares and VanEck filed with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> to withdraw their applications to launch Ether Strategy ETF and Ethereum Strategy ETF based on Ethereum futures.<\/p>\n<p>Documents for the firm&#8217;s <a href=\"https:\/\/forklog.com\/en\/news\/vaneck-and-proshares-submit-applications-for-ethereum-futures-based-etfs\">structure approvals were submitted to the regulator on August 18<\/a>.<\/p>\n<p>Product proposals complied with the Investment Company Act of 1940. In Gary Gensler&#8217;s view, it <a href=\"https:\/\/forklog.com\/en\/news\/gensler-warns-of-tighter-regulation-for-defi-and-stablecoins\">provides stronger protections<\/a> than the Securities Act of 1933.<\/p>\n<p>It was anticipated that, in addition to Ethereum futures, the funds would be able to invest in <a href=\"https:\/\/www.investopedia.com\/terms\/p\/pooledfunds.asp\">\u043e\u0431\u044a\u0435\u0434\u0438\u043d\u0435\u043d\u043d\u044b\u0435 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u043e\u043d\u043d\u044b\u0435 \u0444\u043e\u043d\u0434\u044b<\/a> and other exchange-traded products focused on ether.<\/p>\n<p>Commenting on the swift withdrawal of the filings, Bloomberg ETF senior analyst Eric Balchunas suggested that the firms were being told: approvals for the products were unlikely.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Now ProShares is withdrawing their Ether ETF filing. SEC may have had a conf call, Godfather-style. Ether, you\u2019re out. <a href=\"https:\/\/t.co\/ZZ4b5zpx54\">pic.twitter.com\/ZZ4b5zpx54<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1428749699130052611?ref_src=twsrc%5Etfw\">August 20, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The SEC may have had a Godfather-style conference. Ethereum, you\u2019re out,&#8221; Balchunas wrote.<\/p>\n<\/blockquote>\n<p>Balchunas, for his part, sees this as a good sign for potential ether-based ETF issuers:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;As long as we see Ethereum-only products being rejected, I would say this is good news for Bitcoin ETFs. It seems they [SEC] are saying: let\u2019s do this now, but only for Bitcoin.&#8221;<\/p>\n<\/blockquote>\n<p>Back in June, the Commission again <a href=\"https:\/\/forklog.com\/en\/news\/sec-again-extends-review-of-vanecks-bitcoin-etf-filing\">extended the review<\/a> of VanEck\u0002019s application to launch a Bitcoin-based ETF.<\/p>\n<p>In August, the company <a href=\"https:\/\/forklog.com\/en\/news\/vaneck-files-for-bitcoin-strategy-etf\">sent to the regulator<\/a> documents to register a Bitcoin-strategy ETF.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 20, asset managers ProShares and VanEck filed with the SEC to withdraw their applications to launch Ether Strategy ETF and Ethereum Strategy ETF based on Ethereum futures.<\/p>\n","protected":false},"author":1,"featured_media":48069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,825,128,1211,783],"class_list":["post-48068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-proshares","tag-sec","tag-stock-market","tag-vaneck"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/48068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=48068"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/48068\/revisions"}],"predecessor-version":[{"id":48070,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/48068\/revisions\/48070"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/48069"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=48068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=48068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=48068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}